With clunker program over, some fear auto sales drought
Now that the government's cash-for-clunkers blowout is finally over, some fear a morning-after hangover of buyers' remorse and a sales drought for struggling auto dealers.
The offer of incentives to trade old gas guzzlers for new, more efficient vehicles resulted in 690,114 sales for which dealers applied for vouchers by the Transportation Department's Tuesday deadline. The taxpayers' cost will be nearly $2.9 billion.
Now there's a calm after the storm. Car-shopping service Edmunds.com says half as many people are researching a new car purchase on its website as were looking during the peak of the clunker frenzy. Traffic is even off 10% from June levels, ahead of the clunker kickoff on July 27.
With clunker program over, some fear auto sales drought - USATODAY.com
The offer of incentives to trade old gas guzzlers for new, more efficient vehicles resulted in 690,114 sales for which dealers applied for vouchers by the Transportation Department's Tuesday deadline. The taxpayers' cost will be nearly $2.9 billion.
Now there's a calm after the storm. Car-shopping service Edmunds.com says half as many people are researching a new car purchase on its website as were looking during the peak of the clunker frenzy. Traffic is even off 10% from June levels, ahead of the clunker kickoff on July 27.
With clunker program over, some fear auto sales drought - USATODAY.com
